1) Texas Hold'Em - burning a card before the flop, especially when pre-flop betting gets huge. Refers to pulling the pin on a grenade, but not throwing it immediately so it explodes a shorter time after throwing it.

2) To start a fight

1) Three guys went all-in, but we had to scrap the hand because Frank zoned out and cooked it before all the betting was done.

2) Some fool mooned Gary, so he chose to cook it right there in front of the bar.